Menu visibility control

Video

Events

Startup Surgery

Most Recent

News

Top tech stats: Virgin’s business predictions, developers have their say and more

FinTech

London FinTech Aire raises $5m Series A from Sunstone Capital and White Star Capital

Sponsored

Tech Chats: EY’s Daniel Lyons on how tech is revolutionising transport

Press Releases

GreenKey Technologies and Red Box Recorders partner to launch integrated trading voice collaboration and compliance recording solution
Leading light in British HealthTech, Network Locum, rebrands to Lantum
SteelEye announces regulatory tech specialist Matt Smith as CEO

Oxfordshire-based AR firm WaveOptics closes £12m Series B

WaveOptics
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Augmented reality firm WaveOptics has closed a £12m Series B from existing backers Octopus Ventures, Touchstone Innovations and Robert Bosh Venture Capital.

Shanghai-based Gobi Ventures also joined the round, which comes after an undisclosed Series A in October 2015.

Speaking about the funding, Martin Harriman, chairman at WaveOptics, said: ‘WaveOptics is reinventing the AR  market, by developing a series of new AR display tech that enables a wider field of view and brighter full colour images – a unique combination in today’s market.

A $170m tech fund, a drowning robot and more in The Week in Tech

“This funding round further accelerates development of our industry-leading technologies and enables us to launch programmes in new markets and territories. We are excited about the team of investors we have on board who share our vision.”

WaveOptics, headquartered in Oxfordshire, is developing what it says is a novel optical waveguide technology and modules for AR displays.

The firm is focused on creating the underlying optics necessary to deliver an ‘enhanced’ AR experience while seeking to solve some of the performance and cost challenges currently getting in the way of the technology’s mainstream adoption.

WaveOptics is focused on developing the underlying optics to deliver an enhanced AR experience, whilst solving some of the performance and cost challenges currently limiting AR technology adoption.

Robert Bahns, director of technology investment at Touchstone Innovations, said the firm had made significant technical and commercial progress since its previous fundraise in late 2015.

“This new funding will allow the company to complete its product development and position itself as a leader and key technology enabler of highly compelling AR experiences.”

Simon King, principle at Octopus Ventures, added: “There are a number of technical hurdles that need to be overcome before AR is widely adopted and getting the display right comes high at the top of that list. We are very excited to continue to back the talented team at WaveOptics as we believe they have the skills and technology to deliver an experience that will unlock the next revolution in personal computing.”

The news comes after another UK founded AR company Blippar, which made headlines after various outlets questioned the viability of its business model and its founder’s credibilityraised $54m in Series B funding last year.

To check out the latest UK tech investments, visit the Tech City News Investment Tracker.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

startup tech laptop

Top tech stats: Virgin’s business predictions, developers have their say and more
posted on July 22, 2017

Aire Team picture June 2017_9

London FinTech Aire raises $5m Series A from Sunstone Capital and White Star Capital
posted on July 21, 2017

Tech Chats June - digital mobility

Tech Chats: EY’s Daniel Lyons on how tech is revolutionising transport
posted on July 21, 2017

mobile phone

London machine learning startup Sportr closes $350k Seed round
posted on July 21, 2017

The Week in Tech

A $170m tech fund, a drowning robot and more in The Week in Tech
posted on July 21, 2017

Graphcore founders Nigel Toon CEO (right) & Simon Knowles CTO (left)

Bristol-based Graphcore raises $30m from backers including DeepMind co-founder and Atomico
posted on July 20, 2017